Starbucks CEO asks for $5 donations to create jobs

Starbucks CEO Howard Schultz wants customers to donate $5 when they buy coffee, part of an effort to create jobs in a down economy.

Donations will be multiplied by a network of 180 organizations described as Community Development Financial Institutions. Starbucks estimates one new job will be created or retained for approximately every $21,000 in loans, due to loans made to community businesses.

Schultz said:

“Small businesses are the backbone of America, employing more than half of all private sector workers – but this critical jobs engine has stalled. We’ve got to thaw the channels of credit so that community businesses can start hiring again. Create Jobs for USA empowers Americans to help other Americans create and sustain jobs, with Starbucks and OFN as a catalyst and the Indivisible wristband as a symbol of our country’s unity.”

Donations, which can be made at Starbucks cafes or online at www.CreateJobsforUSA.org, will be rewarded with a red white and blue wristband bearing the inscription “Indivisible.”